BMI View: Mauritius is home to a very well-developed insurance market. Life insurance plays a centralrole in organised savings and benefits from the maturity of the Mauritian financial market. We expect to seecontinued growth in life insurance premiums written, based primarily upon wider economic growth as mosthouseholds already benefit from some level of coverage so the new potential consumer market is small. Thenon-life market is also expected to grow, particularly leading health and motor insurance lines. Bothsectors will benefit from the expansion of the available product range and overall we hold a highly positiveview for the Mauritian insurance industry.

Key Updates And Forecasts

- Mauritius is embarking on a number of ambitious infrastructure projects, including the development ofeight 'smart cities', which will stimulate growth in the non-life insurance sector, though as a maturemarket domestic insurers may be more focused upon opportunities in overseas markets.

- We continue to forecast healthy growth in the Mauritian life insurance segment, with premiums forecastto grow by 6.5% in local currency terms in 2016 to reach MUR18.7bn. Further growth over theremainder of the forecast period will lead to premiums of MUR23.4bn with a concurrent increase indensity (premiums per capita).

- The non-life sector is less than half the size of the life market but will record slightly stronger growthover the course of the forecast period, with non-life premiums forecast to increase from MUR8.3bn in2016 to MUR11.5bn in 2020.

Summary The UK travel insurance market declined by 12.3% to £625.4m in gross written premium (GWP) in 2015. This is a result of fewer policies being written, in addition to rates that have been prevented ...